Nabil Bank Limited approves 10% cash dividend to shareholders

Kathmandu, Dec. 12

Nabil Bank Limited has approved a 10 per cent cash dividend for its shareholders. The 40th Annual General Meeting (AGM) of the bank held in Kathmandu on Thursday gave the final nod to the proposal of the Board of Directors (BoD).  

The AGM passed the proposal to distribute the cash dividend from the retained earnings of the fiscal year 2023/24, following the recommendation of the BoDs and approval from Nepal Rastra Bank, the bank informed in a statement. During the review period, the bank recorded a net profit of Rs. 6.2 billion.

The bank said that compared to the previous fiscal year, the bank’s deposits grew by Rs. 66.1 billion (16.41 per cent), reaching Rs. 468.79 billion.

Likewise, loans and liabilities increased by Rs. 46.32 billion (13.65 per cent), totalling Rs. 385.72 billion. Banks's total assets expanded by 15.76 per cent to reach Rs. 557.02 billion by the end of of FY 2023/24.

The AGM also elected Ananta Poudyal and Pravin Tibdewal unopposed as directors representing the public shareholders.

Addressing the meeting, Chairman Upendra Poudyal highlighted the bank’s commitment to institutional governance, customer satisfaction, and the continuous modernisation and expansion of its banking services.

He said that over the years, Nabil Bank has demonstrated significant growth in shareholder value. The bank’s initial paid-up capital has grown 960 times, driven by regular dividend payouts, market capitalisation, and value appreciation, cementing its position as a leading commercial bank in Nepal.

Nabil Bank has received numerous accolades, including the National Best Presented Annual Report (Gold Award) from the Institute of Chartered Accountants of Nepal and a Merit Certificate (Best Presented Annual Report) from the South Asian Federation of Accountants. Additionally, it was recognised as the highest taxpayer among banks for the fiscal year 2022/23, marking the eighth time it received this honour in the financial and insurance sector.

The bank serves over 2.4 million customers across Nepal through its network of 268 branches and 320 ATMs.

 Published in The Rising Nepal daily on 13 December 2024.